MPC minutes reveal 2% rate cut was considered
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
Yesterday the minutes from the last MPC meeting revealed a 2% rate cut was considered, as economic and deflationary concerns mounted. However, the MPC opted for the 1.5% cut to leave space for further cuts after the November inflation report and Pre-budget report. Many analysts are already pricing in a further 1% cut in December, some are expecting the benchmark rate next year to fall to 1% or less.
Thursday 20 November 2008, 11:36am
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